Lesson 3.7.1

3.7.1 Global context Quiz: OCR Business, Unit 3

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

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Lesson 3.7.1, Global context: 20 multiple choice questions for the OCR Business (H431), Unit 3: External influences, written with Revision Ninja.

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The 20 questions

  1. What term describes the growing integration and interdependence of world economies?

    • Globalisation
    • Localization
    • Protectionism
    • Mercantilism

  2. Which factor directly facilitates globalisation by reducing trade restrictions between nations?

    • Import quotas
    • Local sourcing
    • Tariff imposition
    • Trade liberalisation

  3. What is a major characteristic of a multinational corporation?

    • State-owned model
    • Single-market operations
    • Sole trader status
    • Multi-country operations

  4. How does a global strategy differ from general globalisation?

    • Consumer preference
    • Individual business plan
    • Government policy
    • Macroeconomic trend

  5. What is the term for marketing a product under one name worldwide?

    • Local branding
    • Niche marketing
    • Global branding
    • Product differentiation

  6. What term describes the buying and selling of goods and services across national borders?

    • Domestic trade
    • Internal trade
    • International trade
    • Primary production

  7. What is trade between countries without tariffs or quotas called?

    • Protectionism
    • Free trade
    • Bilateral aid
    • Fair trade

  8. What is a group of countries with formal agreements to reduce trade barriers called?

    • Public corporation
    • Cartel
    • Trading bloc
    • Trade union

  9. Which technology has enabled small businesses to easily sell to customers worldwide?

    • E-commerce
    • EPOS
    • CAD
    • EFTPOS

  10. If £1 equals $1.30, how much USD will a business receive for £500?

    • $500
    • $384.62
    • $630
    • $650

  11. How does an appreciation of the British pound affect UK exporters?

    • Exports become expensive
    • Imports become expensive
    • Exports become cheaper
    • No price impact

  12. How does a depreciation of the UK pound affect UK importers?

    • Import costs fall
    • No cost change
    • Import costs rise
    • Export prices rise

  13. Which factor must a firm consider regarding local customs when expanding abroad?

    • Import quotas
    • Exchange rates
    • Transport infrastructure
    • Cultural differences

  14. Which organisation provides official export credit guarantees to UK businesses?

    • Monopolies Commission
    • HMRC
    • UK Export Finance
    • Bank of England

  15. Which acronym describes the effect of a Strong Pound making Exports Dearer?

    • PESTLE
    • SPICED
    • WPIDEC
    • SWOT

  16. What main threat do expanding global brands pose to small domestic businesses?

    • Lower transport costs
    • Increased competition
    • Higher tax rates
    • Strict regulations

  17. What type of trade barrier taxes foreign imports to increase their domestic price?

    • Quota
    • Subsidy
    • Embargo
    • Tariff

  18. What is a major benefit to a business of operating within a trading bloc?

    • Tariff-free trade
    • Zero income tax
    • Fixed exchange rates
    • Universal currency

  19. Why might a capital-intensive manufacturing business be heavily affected by globalisation?

    • Global supply chains
    • Local service focus
    • Fixed exchange rates
    • Zero transport costs

  20. How can a business best respond to cheap imports from overseas competitors?

    • Raise selling prices
    • Cease marketing
    • Reduce product quality
    • Innovate and differentiate

All OCR Business quizzes